China HongXing: Repeating the Elliott Waves

Have observed several Elliott Wave Patterns in China HongXing. The attached China HongXing charts have shown two complete Elliott Wave patterns (Wave 1 – 5, Wave A, B, C) previously. Now China HongXing is showing the another potential Elliott Wave pattern showing the Wave 4 in formation. If you believe in Elliott Wave pattern and believe the history may repeat itself, you should be able to predict the next movement by studying how the Wave 5 performed on the previous two occasions.

Past two Wave 5 performance:

  • From $0.13 to $0.21 in two weeks (61.5% increase)
  • From $0.18 to $0.25 in two weeks (38.8% increase)
  • Take note of the Fibonacci numbers (61.8%, 38.2%)…. A coincidence?

So, next performance? From $0.175 to ???? in ?? weeks?

Look at the China HongXing chart and make your prediction!

Welcome to post your prediction here!



This Post Has 15 Comments

  1. nicholas

    my prediction is $0.175 to $0.25 🙂

  2. ric

    I’m not too sure about the 5th wave as there is no volume to support which could be seen previously on the last 2 waves

  3. jx

    nice observation! and hey there is a nice doji ytd. and is wave 5 the most profitable wave? however i will still wait for a high vol bullish day to confirm the bulls participation.

  4. Marubozu

    Wave 4 may not be completed yet and China HongXing may go as low as $0.17. As long as the stock does not go below and overlap with wave 1, the Elliott Wave is still valid. Just wait for the volume to return! Good luck to everyone!

  5. ric

    Hi Marubozu,

    How did you derive china hongxing at 17cents?
    Is it based on previous support and resistance or fibonaci that u draw up?
    not sure if i got my fibonaci drawn correctly anot 😛

  6. Marubozu

    Hi Ric,
    Wave 1 ended at $0.17. That was the previous resistance. If this resistance turned into support, Wave 5 is confirmed. Wave 4 should not overlap with Wave 1.
    So, $0.17 should be the worst case for Elliott Wave pattern to be valid.

    Anyway, stock charting is a combination of arts and science. There is no absolute number, right or wrong. We use chart pattern to predict the future movement instead of guessing.

    Hope it helps.


  7. jx

    seems like wave 5 is forming?

  8. ric

    thanks Marubozu 🙂

  9. Desy

    Quite good Maru. Can u teach me more about technical analysis.. 🙂

  10. Marubozu

    I have just started a small class for some of the readers. You can drop me an email and I will let you know if I start my next class. So far I have no plan for next class yet.


  11. Desy

    Bro, The wave like not coming resistance at 0.19
    based on tech analysis where is it going to head to?

  12. Marubozu

    Desy, we just need to wait.
    Bear in mind that pattern may fail too. We just have to watch closely.

  13. Desy

    Ok tks

  14. Fisherman

    Is there still 5th wave as the price drop to 0.165

  15. Marubozu

    The Elliott Wave may no longer valid if drop further. Need to watch closely whether the 200D MA support is strong enough too.

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